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Updated A.Y. 2020-2021

Course Content

This course aims at providing students with the analytical tools and methodological skills that are necessary to understand the origins of environmental problems, and to identify the appropriate policies to solve them. During the course, the most recent developments and debates in environmental and natural resource economics are addressed.

Environmental economics studies the complex interrelations between economics and the environment. The starting point of the analysis is the recognition that in several cases markets do not provide the right amount of environmental protection, and that some government intervention is needed to balance different social needs. In a world where human pressure and economic activities stress the environment by exploiting fisheries, forests, minerals, energy sources, and other environmental resources, it is increasingly important to study how economic tools can be used to develop sustainable environmental approaches and policies.

During the course, a selection of specific topics will be presented at an intermediate-advanced level

1. The economic sources of environmental problems: property rights, externalities and the Tragedy of the Commons

2. Pollution: efficient targets and policy responses

3. Climate change

    3a. climate change and energy policy 

    3b. climate risks and environmental disasters

    3c. why is climate change policy so complex?

4. The Economics of the Sustainability Transition

5. Dynamic responses to environmental issues: the role of eco-innovation

6. Behavioral drivers: are we rational and selfish when we take decisions that matter for the environment? Bounded rationality; social norms; risk perception

7. Waste management and policies: encouraging recycling and beyond - an introduction to the Circular Economy.

The treatment of these topics will be complemented by discussion on current policy design (including the well known EU Green Deal, the EU Circular Economy Action Plan, Emissions Trading implementation all over the world, the role of Sustainable Finance etc.), as well as, if possible, by classroom games.

Textbook: Perman, R. et al. (2011), “Natural resource and environmental economics”, Third Edition, Pearson. The relevant chapters will be indicated during lectures and published at the end of the course on this website. Relevant chapters: 2,4,5,6,7,9.

Slides, made available on Teams, will be part of the compulsory course material.

Further readings (reports and journal articles), compulsory or not, may be made available on Teams.